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YOUR ONE-STOP SINGAPORE CORPORATE SERVICE PROVIDER

Count on us to breeze through the Singapore company formation and work visa process. With a team of experienced and qualified incorporation specialists based in Singapore, you can be assured of top-level expertise on company formation setup structures and committed support on all accounting and tax statutory matters. We are your partner for the long run.

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LLC + Employment Pass

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Set up your company

in less than 1 hour*!

*Provided if all your documents are in place

WHY INCORPORATE IN SINGAPORE?

Singapore VS United Kingdom (UK)

Singapore United Kingdom (UK)

Economic Base

Singapore’s economy is well-diversified across multiple industries such as trade, manufacturing, shipping, banking and finance, among others.

Singapore’s GDP per capita stands at US$55,243 as of 2016.

The UK economy makes up about 4% of world GDP. The service sector dominates in the UK’s GDP by contributing 78%.

The UK’s GDP per capita is US$40,369 as of 2016.

Tax Rates

The current headline corporate tax rate in Singapore is a flat 17%, which ranks as one of the lowest in the world.

Income Tax rate
Capital gains accrued by the company 0%
Dividend distribution to shareholders 0%

Full and partial tax exemptions are available for companies with taxable income of up to S$300,000.

See Tax Table
Tax Income (SGD) Effective Tax Rate
100,000 0.00%**
200,000 3.40%
300,000 4.53%
400,000 6.80%
500,000 8.20%
1,000,000 12.60%
2,000,000 14.80%
3,000,000 15.53%
5,000,000 16.12%
10,000,000 16.56%
*Maximum headline corporate tax is 17%

 

The UK’s corporate tax stands at 19%.

Tax band Tax rate on dividends over £5,000
Basic Rate 7.5%
Higher Rate 32.5%
Additional Rate 38.1%

Personal Income Tax

With a progressive tax rate, which ends at 22%, Singapore offers the lowest effective tax rates in the world. The UK’s personal income tax rate is progressive up to 45%.

GST/VAT

Singapore has 7% GST The UK has 20% VAT

Foreign Ownership in Companies

100% foreign ownership is permitted for companies registered in Singapore. The UK government to prohibit transfer to foreign owners of 30 percent or more of important UK manufacturing businesses if such a transfer would be contrary to the interests of the country.

Bureaucracy

Singapore is famed for a smooth-running bureaucracy, which sees inter-agency co-operation working seamlessly to help businesses grow. InCorp Group is the official partner of two such agencies – ACE and EDB.

Company registration is as easy as 3 steps and can be completed in a day as long as all documents are in order.

After exiting from European Union, the UK business could face ‘huge bureaucratic burdens’ due to new regulations and restrictions on customs and labour costs.

Company registration is a 4-day process in the UK

Residency & Citizenship

Singapore allows foreigners to apply for permanent residency after working in Singapore for 3-4 years. Permanent Residents (PR) can then apply for citizenship 2 years after their PR approval.

 

After 5 years of staying and adhering to other norms, one can obtain the UK’s citizenship

Rankings

  • #2 out of 190 economies, according to the World Bank’s Ease of Doing Business Report 2017
  • #3 in the world in the Global Competitiveness Index 2017-2018 overall rankings
  • #1 in Asia and 7th in the world for innovation based on the Global Innovation Index Report 2017
  • #1 least corrupt nation in Asia and 6th in the world according to Transparency International in 2017
  • #1 in Asia and #5 in the Logistic Performance Index (LPI) in the world for the better logistics, supply chain performance, World Bank 2016
  • #1 in Asia and #2 in the world with the most seamless connectivity in the Global Connectivity Index 2017
  • #9 in the world by Global Intellectual Property Convention (GIPC) International Intellectual Property Index 2018
  • #13 in the world based on IMD World Talent Report 2017
  • #25 in the world with the best quality of living, based on Mercer’s survey 2018
  • #7 in the World Bank’s Ease of Doing Business Report 2017
  • #8 in the world in the Global Competitiveness Index 2017-2018 overall rankings
  • #5 in the world for innovation based on the Global Innovation Index Report 2017
  • #8 least corrupt nation in the world according to Transparency International in 2017
  • #8 in the Logistic Performance Index (LPI) in the world for the better logistics, supply chain performance, World Bank 2016
  • #5 in the world with the most seamless connectivity in the Global Connectivity Index 2017
  • #2 in the world by GIPC International Intellectual Property Index 2018
  • #21 in the world based on IMD World Talent Report 2017
  • #41 in the world with the best quality of living, based on Mercer’s survey 2018

Let the experts in businesses guide you to start your Singapore business

Our expertise in company formation, statutory compliance, accounting, tax, immigration, recruitment, insurance and consulting has helped thousands of companies get a headstart. Get yours today.

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PARTNERSHIPS

Official Singapore Company Registration Partner of ACE

We are aligned with ACE’s commitment to the startup community in Singapore. As their official Corporate Services Partner, we aim to meet the corporate needs of entrepreneurs and startups, providing dedicated business support and driving entrepreneurship in the city-state.

Connections Concierge Partner of the Singapore EDB

InCorp shares the objective of pioneering economic opportunities for SMEs and MNCs. As a partner of the Singapore Economic Development Board (EDB)’s Connection Concierge, we aim to partner enterprises in using Singapore as a springboard for their global expansion journey.

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